The Hubway regional bike sharing program was inaugurated on Thursday outside of Boston City Hall with the signing of a contract between the City of Boston and Alta Bicycle Share, the future operator of the system. Despite blustery conditions, hundreds of people came out to listen to several high-profile speakers and watch the important moment in Boston’s transportation history.

MassBike Executive Director David Watson was among those to speak, emphasizing the transformative potential of bike share and the need to make it fully regional. You can read his full remarks here. The ceremony featured speeches from Boston Mayor Thomas Menino, Somerville Mayor Joseph Curtatone, Secretary of Transportation Jeff Mullan, Alta Bicycle Share President Alison Cohen, Deputy FTA Administrator Therese McMillan, MAPC Transportation Manager Eric Bourassa, and Congressman Mike Capuano.

The system, starting out in Boston with expected expansion into Cambridge, Brookline and Somerville, will begin with 600 bikes, with plans to grow to 5,000. There will be a membership fee (either daily, monthly or annually) and a tiered price structure for bike use. Rides under 30 minutes will be free! Boston will be the fourth city in America to have such a program, following Denver, Minneapolis and Washington, DC.